Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 44.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,644 shares of the shipping company’s stock after selling 47,046 shares during the period. Foundry Partners LLC’s holdings in Teekay Tankers were worth $2,333,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in shares of Teekay Tankers during the fourth quarter valued at $966,000. Geode Capital Management LLC boosted its stake in shares of Teekay Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 320,965 shares of the shipping company’s stock worth $12,771,000 after purchasing an additional 2,978 shares during the last quarter. Diametric Capital LP purchased a new stake in shares of Teekay Tankers during the fourth quarter worth about $301,000. Franklin Resources Inc. acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $5,131,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Price Performance

NYSE TNK opened at $34.46 on Friday. The business’s 50-day simple moving average is $39.48 and its 200-day simple moving average is $44.16. The firm has a market capitalization of $1.18 billion, a P/E ratio of 3.04 and a beta of -0.16. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $74.20.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The business had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. On average, equities research analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. Teekay Tankers’s dividend payout ratio is currently 8.83%.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.